Roche acquires DNA sequencing firm for up to $350 mln

ZURICH, June 2 Mon Jun 2, 2014 1:13am EDT

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ZURICH, June 2 (Reuters) - Swiss drugmaker Roche said it was buying privately held Genia Technologies, which is developing a DNA sequencing platform, for up to $350 million including milestone payments.

Genia's shareholders will receive $125 million in cash and up to $225 million in contingent payments depending on certain milestones, Roche said in a statement on Monday.

"The addition of Genia's single molecule semiconductor DNA sequencing platform using nanopore technology strengthens our next generation sequencing pipeline," Roland Diggelmann, Chief Operating Officer of Roche Diagnostics, said in the statement. (Reporting by Silke Koltrowitz)

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